Calculate the mean yearly value using the average gas prices by month found in the “Final Project Data Set.” ...

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         1. Calculate the mean yearly value using the   average gas prices by month found in the “Final Project Data Set.” 2. Using   the years as your x-axis and the annual mean as your y-axis, create a   scatterplot and a linear regression line. 3. Answer the following questions   using your scatterplot and linear regression line: o What is the slope of the   linear regression line? o What is the Y-intercept of the linear regression   line? o What is the equation of the linear regression line in slope-intercept   form? o Based on the linear regression line, what would be an estimated cost   of gas in the year 2020? o What are the residuals of each year? o Select a   current price that you have seen or paid recently for gas. Is that price   within the range of the linear regression line or is it an outlier? Is it   within the confidence interval of 5% or either end?                                    Series Id: APU000074714              Area: U.S. city average              Item: Gasoline, unleaded   regular, per gallon/3.785 liters          Years: 1982 to 2011                              Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual   1982 1.358 1.334 1.284 1.225 1.237 1.309 1.331 1.323 1.307 1.295 1.283 1.26 1.296   1983 1.23 1.187 1.152 1.215 1.259 1.277 1.288 1.285 1.274 1.255 1.241 1.231 1.241   1984 1.216 1.209 1.21 1.227 1.236 1.229 1.212 1.196 1.203 1.209 1.207 1.193 1.212   1985 1.148 1.131 1.159 1.205 1.231 1.241 1.242 1.229 1.216 1.204 1.207 1.208 1.202   1986 1.194 1.12 0.981 0.888 0.923 0.955 0.89 0.843 0.86 0.831 0.821 0.823 0.927   1987 0.862 0.905 0.912 0.934 0.941 0.958 0.971 0.995 0.99 0.976 0.976 0.961 0.948   1988 0.933 0.913 0.904 0.93 0.955 0.955 0.967 0.987 0.974 0.957 0.949 0.93 0.946   1989 0.918 0.926 0.94 1.065 1.119 1.114 1.092 1.057 1.029 1.027 0.999 0.98 1.022   1990 1.042 1.037 1.023 1.044 1.061 1.088 1.084 1.19 1.294 1.378 1.377 1.354 1.164   1991 1.247 1.143 1.082 1.104 1.156 1.16 1.127 1.14 1.143 1.122 1.134 1.123 1.140   1992 1.073 1.054 1.058 1.079 1.136 1.179 1.174 1.158 1.158 1.154 1.159 1.136 1.127   1993 1.117 1.108 1.098 1.112 1.129 1.13 1.109 1.097 1.085 1.127 1.113 1.07 1.108   1994 1.043 1.051 1.045 1.064 1.08 1.106 1.136 1.182 1.177 1.152 1.163 1.143 1.112   1995 1.129 1.12 1.115 1.14 1.2 1.226 1.195 1.164 1.148 1.127 1.101 1.101 1.147   1996 1.129 1.124 1.162 1.251 1.323 1.299 1.272 1.24 1.234 1.227 1.25 1.26 1.231   1997 1.261 1.255 1.235 1.231 1.226 1.229 1.205 1.253 1.277 1.242 1.213 1.177 1.234   1998 1.131 1.082 1.041 1.052 1.092 1.094 1.079 1.052 1.033 1.042 1.028 0.986 1.059   1999 0.972 0.955 0.991 1.177 1.178 1.148 1.189 1.255 1.28 1.274 1.264 1.298 1.165   2000 1.301 1.369 1.541 1.506 1.498 1.617 1.593 1.51 1.582 1.559 1.555 1.489 1.510   2001 1.472 1.484 1.447 1.564 1.729 1.64 1.482 1.427 1.531 1.362 1.263 1.131 1.461   2002 1.139 1.13 1.241 1.407 1.421 1.404 1.412 1.423 1.422 1.449 1.448 1.394 1.358   2003 1.473 1.641 1.748 1.659 1.542 1.514 1.524 1.628 1.728 1.603 1.535 1.494 1.591   2004 1.592 1.672 1.766 1.833 2.009 2.041 1.939 1.898 1.891 2.029 2.01 1.882 1.880   2005 1.823 1.918 2.065 2.283 2.216 2.176 2.316 2.506 2.927 2.785 2.343 2.186 2.295   2006 2.315 2.31 2.401 2.757 2.947 2.917 2.999 2.985 2.589 2.272 2.241 2.334 2.589   2007 2.274 2.285 2.592 2.86 3.13 3.052 2.961 2.782 2.789 2.793 3.069 3.02 2.801   2008 3.047 3.033 3.258 3.441 3.764 4.065 4.09 3.786 3.698 3.173 2.151 1.689 3.266   2009 1.787 1.928 1.949 2.056 2.265 2.631 2.543 2.627 2.574 2.561 2.66 2.621 2.350   2010 2.731 2.659 2.78 2.858 2.869 2.736 2.736 2.745 2.704 2.795 2.852 2.985 2.788    

    • 8 years ago
    (3) • Slope of the regression line is 0.0602 ...
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